Delos Wealth Advisors LLC Invests $6.22 Million in Agnico Eagle Mines Limited $AEM

Key Points

• Delos Wealth Advisors initiated a $6.22 million position in Agnico Eagle Mines, buying 40,088 shares during the second quarter. Institutional investors collectively own 68.34% of the company.
• Analyst sentiment remains generally positive, with 12 Buy ratings, four Holds and one Sell; the stock has a “Moderate Buy” consensus and a $226 average price target, despite several recent target and rating downgrades.
• Agnico Eagle reported quarterly EPS of $3.05, beating estimates of $2.89, while revenue rose 35% year over year to $3.77 billion. Shares opened at $224.04, and the company reported a 40.44% net margin.

Delos Wealth Advisors LLC purchased a new position in Agnico Eagle Mines Limited (NYSE:AEM - Free Report) TSE: AEM during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 40,088 shares of the mining company's stock, valued at approximately $6,219,000. Agnico Eagle Mines accounts for about 3.2% of Delos Wealth Advisors LLC's portfolio, making the stock its 12th largest holding.

Several other hedge funds have also recently bought and sold shares of AEM. Canada Pension Plan Investment Board acquired a new position in Agnico Eagle Mines during the second quarter worth $533,750,000. Manatuck Hill Partners LLC acquired a new stake in Agnico Eagle Mines in the second quarter valued at $2,792,000. Osterweis Capital Management Inc. purchased a new position in shares of Agnico Eagle Mines in the second quarter valued at $43,000. Legal & General Group Plc acquired a new position in shares of Agnico Eagle Mines during the 2nd quarter worth $507,077,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Agnico Eagle Mines during the 2nd quarter worth $608,054,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Weiss Ratings lowered shares of Agnico Eagle Mines from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, July 2nd. Royal Bank Of Canada cut their target price on shares of Agnico Eagle Mines from $230.00 to $210.00 and set a "sector perform" rating for the company in a research report on Thursday, July 9th. Wall Street Zen downgraded shares of Agnico Eagle Mines from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Zacks Research downgraded shares of Agnico Eagle Mines from a "hold" rating to a "strong sell" rating in a report on Friday, July 17th. Finally, Barclays lowered their price target on shares of Agnico Eagle Mines from $210.00 to $188.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 15th. Twelve analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Agnico Eagle Mines currently has an average rating of "Moderate Buy" and a consensus price target of $226.00.

Agnico Eagle Mines Stock Up 2.8%

Shares of NYSE:AEM opened at $224.04 on Wednesday. The company has a quick ratio of 2.02, a current ratio of 2.86 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $113.57 billion, a P/E ratio of 19.17, a P/E/G ratio of 2.71 and a beta of 0.60. Agnico Eagle Mines Limited has a 52-week low of $134.38 and a 52-week high of $255.24. The stock's fifty day simple moving average is $162.91 and its 200-day simple moving average is $187.00.

Agnico Eagle Mines (NYSE:AEM - Get Free Report) TSE: AEM last posted its quarterly earnings data on Wednesday, July 29th. The mining company reported $3.05 EPS for the quarter, topping analysts' consensus estimates of $2.89 by $0.16. Agnico Eagle Mines had a return on equity of 22.04% and a net margin of 40.44%.The firm had revenue of $3.77 billion during the quarter, compared to analysts' expectations of $3.78 billion. During the same quarter last year, the business posted $1.94 EPS. The firm's quarterly revenue was up 35.0% compared to the same quarter last year. As a group, equities research analysts forecast that Agnico Eagle Mines Limited will post 11.56 earnings per share for the current fiscal year.

Agnico Eagle Mines Profile

Agnico Eagle Mines Limited NYSE: AEM is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.

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